You Have Been Assigned to the Accounts Payable Transaction Cycle

question 92

Multiple Choice

You have been assigned to the accounts payable transaction cycle as part of your auditing responsibilities.You have decided to vouch a sample of entries in the accounts payable master file to supporting documents.Which assertion is this test of controls most likely to support?

• A)Accuracy
• B)Classification
• C)Completeness
• D)Occurrence

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Definitions:

Potassium Feldspar

A group of aluminum silicate minerals that contain potassium, commonly found in igneous and metamorphic rocks.

Intrusive Area

An intrusive area is a region where igneous rocks have crystallized from magma intruding into the Earth's crust but have not erupted onto the surface.

Source Area

The geographic location where the materials of a sedimentary rock were derived from.

Radioactive Decay

The process by which an unstable atomic nucleus loses energy by emitting radiation, leading to a change in the number and/or arrangement of its protons and neutrons.